Question
Consider a loan of 18,000.00 you will paid back within five years. The regular monthly payment assumes constant annuity. The banks requires 6 % p.a.
Consider a loan of 18,000.00 you will paid back within five years. The regular monthly payment assumes constant annuity. The banks requires 6 % p.a. and interest is calculated monthly. What is the total payment only on interest for the whole loan?
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Practical financial management
Authors: William r. Lasher
5th Edition
0324422636, 978-0324422634
